Zbinites create capital solutions through business...

Zbinites create capital solutions through business showers

Audrey Galawu

ZBIN Showers are the best platforms to launch new products for entrepreneurs.
Nomsa holding a new flour product launched by fellow Zbinite **Sibonginkosi Mutema** of Bakers Academy at the September business shower held this past weekend.

Capital. That is the biggest killer of many bright ideas. Which is where the Zimbabwe Business Ideas Network business showers come in.

"The Business Shower concept came from one of our members, Nothando Cele, in June 2022 and forum members welcomed it. It works on a roundtable basis whereby 70 members agree to contribute $10 a month," Zimbabwe Business Ideas Network coordinator Victor Muchemwa told Zim Now.

The most recent shower was held this past Saturday at the ZBIN base at Ropka Center on Quendon Road in Monavale.

If you want to start your own business or wish to expand the existing one, then you probably have scratched your head, trying to figure out how to finance it.

Bank loans are cumbersome and difficult to access. Loan sharks have scary rates. Many people end up shelving their ideas without ever exploring the potential.

So imagine coming together with like-minded people and pooling resources to finance each other’s dreams into reality. That, simply put t is the ZBIN business shower solution.

How it works

There are seven groups with 10 members each. All members contribute set amounts and the receiving group (shower hosts for the month) use the capital so raised to start a collective business venture.

The group can add income through catering services, selling advertising space, holding raffles and other such means.

According to Muchemwa, guests can hire their own tables to sell at for a minimum fee of US$20, which adds to the host group’s kitty.

The business shower host group sell their own individual business products and that is naturally their personal income.

Presentations at the showers are by members and outsiders, bringing a diverse wealth of business information, tips, hacks and wisdom through experience.

"We have hosted Advocate Arthur Marara, Dr Barnabas Marimbire and Mavhaire. We have had presentations on financial literacy, running a business in challenging times and unlocking opportunities through partnerships," Muchemwa said.

The recently held shower was the fourth with the next one penciled in for the end of October, another in November while the one in December closes the current round.

"After running the seven showers, a comprehensive independent review will be done in order to map the way forward for 2023,” said Muchemwa.

He also said those interested are welcome to come in an observe but will only be able to join the initiative in 2023.

“One cannot join the Showers midway or even exit," he said.

How does one attend?

"Since they are now a permanent feature on month-ends, our entrance fee is pegged at $5 and covers lunch. We usually advertise on our WhatsApp and Facebook page platforms," he said.

More about ZBIN

ZBIN was formed in 2012, after realisation that there was no platform where the public could easily access opportunities, information and also network.

"The idea to form one was birthed following a Japanese concept called Mirasapo (Supporting the future needs of entrepreneurs)," he said.

The organization was then formally constituted in 2015.

For the past 10 years ZBIN has geared its offerings to the small business owner looking for access to opportunities information, access to markets, to capital and promotion of networking.

“This way we managed to create around 45, 000 active participants on Facebook and this has allowed us to easily mobilise for events such as meetings and tours,” said Muchemwa.

The forum opened an Agro-processing company with 30 shareholders and Agri-volution an Agric- business initiative in January, 2020.

Model

ZBIN operates on a freemium model with free or subscribed membership. Subscription is currently on five dollars annually, but is set for review in 2023.

"Subscription comes with benefits such as access to annual business opportunities book, access to business showers and other forum initiatives, preference access for marketing activities including preferred business directory, access to subscribed forum and all ZBIN forums of choice," he added.

“We established a website (www.zbinworld.com) and linked to a Facebook Platform with 103,000 members as well as to an active WhatsApp Forum community with 10,000 members.

ZBIN leadership is made up of 10 board members including Victor Muchemwa who holds an accounting degree from NUST and is a Chartered Management Accountant (ACMA, CGMA) with a lot of diverse financial management experience in the corporate and public sector.

The forum was awarded Business Coach of the year Award in 2020 by the International Coaching Mentorship Foundation.

ZBIN contacts

Office location No. 34 Quendon Road in Monavale, Harare.

Landline Telephone number +263 242 339454

Mobile: 0773055063

Email: victormuch@yahoo.com